A Tudor Investment Corp. power and gas trader will launch his own hedge fund, apparently with the blessing of Tudor chief Paul Tudor Jones.

Andrew McMillan will launch a fund in Singapore, where he has been based for Tudor, along with five other Tudor veterans, Reuters reports. McMillan's exit from the US$11.6 billion firm after a decade is said to be amicable; Tudor partners are expected to invest in McMillan's new firm.

Despite McMillan's exit, Tudor is not scaling back in Singapore. It has recently added Ai Ning Wee, formerly of the Government of Singapore Investment Corp., in the city-state.

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